Allegiant Travel (NASDAQ:ALGT) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a hold rating to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

A number of other brokerages have also commented on ALGT. Barclays assumed coverage on Allegiant Travel in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $145.00 target price on the stock. Melius Research raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research report on Tuesday, July 7th. The Goldman Sachs Group lifted their price objective on shares of Allegiant Travel from $125.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. UBS Group upped their price objective on shares of Allegiant Travel from $103.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, Susquehanna cut their price objective on shares of Allegiant Travel from $132.00 to $110.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Allegiant Travel has a consensus rating of “Moderate Buy” and a consensus target price of $127.00.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $81.70 on Monday. The business has a fifty day moving average of $101.07 and a 200 day moving average of $92.43. Allegiant Travel has a 1 year low of $53.70 and a 1 year high of $123.63. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.83 and a quick ratio of 0.80. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 57.94, a price-to-earnings-growth ratio of 0.23 and a beta of 1.53.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.92. The business had revenue of $943.49 million for the quarter, compared to the consensus estimate of $982.70 million. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%.The company’s quarterly revenue was up 36.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 EPS. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. As a group, research analysts expect that Allegiant Travel will post 7.14 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Allegiant Travel by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,202 shares of the transportation company’s stock valued at $475,000 after acquiring an additional 394 shares during the period. Creative Planning boosted its position in Allegiant Travel by 29.1% during the second quarter. Creative Planning now owns 6,915 shares of the transportation company’s stock worth $380,000 after purchasing an additional 1,558 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Allegiant Travel during the second quarter worth approximately $350,000. Invesco Ltd. grew its holdings in Allegiant Travel by 3.9% in the second quarter. Invesco Ltd. now owns 121,339 shares of the transportation company’s stock valued at $6,668,000 after purchasing an additional 4,602 shares during the period. Finally, First Trust Advisors LP acquired a new stake in Allegiant Travel in the second quarter valued at approximately $654,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company is a holding company that operates Allegiant Air, a low?cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price?sensitive leisure travelers, Allegiant Air operates a point?to?point network that avoids the traditional hub?and?spoke model, providing non?stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.